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Property companies’ share price discounts and property market returns The Singapore evidence

Property companies’ share price discounts and property market returns The Singapore evidence Analyses the quarterly share price discount/ premium of Singapore property companies in the period 1980‐94. Further investigations suggest an inverse relationship between the size of average valuation discount of property equity and direct property return even in the presence of a “pure” property factor in both markets. Lends further research evidence to the growing belief that property stocks may be regarded as proxy for direct property investments. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Finance Emerald Publishing

Property companies’ share price discounts and property market returns The Singapore evidence

Kim Hiang Liow
Journal of Property Finance , Volume 7 (4): 14 – Dec 1, 1996
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Publisher
Emerald Publishing
Copyright
Copyright © 1996 MCB UP Ltd. All rights reserved.
ISSN
0958-868X
DOI
10.1108/09588689610152390
Publisher site
See Article on Publisher Site

Abstract

Analyses the quarterly share price discount/ premium of Singapore property companies in the period 1980‐94. Further investigations suggest an inverse relationship between the size of average valuation discount of property equity and direct property return even in the presence of a “pure” property factor in both markets. Lends further research evidence to the growing belief that property stocks may be regarded as proxy for direct property investments.

Journal

Journal of Property Finance – Emerald Publishing

Published: Dec 1, 1996

Keywords: Property; Share prices; Singapore

References

  • Property share valuation
    Adams, A.T.; Venmore‐Rowland, P.
  • An evaluation of asset revaluation practices
    Chan, Y.K.
  • Equity real estate investment trusts and real estate returns
    Giliberto, M.S.
  • What does the stock market tell us about real estate returns?
    Gyourko, J.; Keim, D.B.
  • Property units and equities: a comparative examination
    Lau, L.C.; Damon, T.
  • Towards the development of performance measures for commercial real estate in Singapore
    Lee, A.
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    Martin, J.D.; Cook, D.O.
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    Myer, F.C.N.; Webb, J.R.
  • Retail stocks, retail REITs and retail real estate
    Myer, F.C.N.; Webb, J.R.
  • Structural and vector autoregressive approaches to modelling real estate and property stocks in Singapore
    Ong, S.E.
  • Singapore real estate and property stock ‐ a co‐integration test
    Ong, S.E.
  • Direct property and property shares
    Venmore‐Rowland, P.